Long Term Capital Gains

[Dwjhs970]

When filling out the info for Short and Long Term Capital Gains, it looks like the program doesn't differentiate between the 2 and just adds both gains together and then the value is inserted on the 1040 Form, Line 6 taken from Schedule D. The tax rates, as I understand it, are different for long term and short yet it appears from the program that I am being taxed at my income rate instead of the long term rate for the long term gains.Iis that right?

[MinhT1]

No, TurboTax will apply the appropriate tax rates for short term and long term capital gains.

The total capital gains are reported on line 6 of form 1040, but short term and long term gains are reported separately on Schedule D. Short term gain/loss is on line 7 of Schedule D. Long-rem gain loss is on line 15.

[RDK2]

I have the same question. Did you ever figure it out?

Why is it that my long-term capital gain, that is supposed to be taxed at 15%, is being ADDED to my ordinary income on form 1040, then taxed at ORDINARY INCOME tax rates (in my case 36%)?

[DeanM15]

The question is where the tax is being calculated. If you have no qualified dividends and capital gains your income tax is taken from the tax table. 

If you have dividends and capital gains the tax is calculated on the Qualified Dividends and Capital Gains Tax Worksheet. Your qualified dividends and capital gains are added together on Form 1040 to make up adjusted gross income and taxable income but are separated on the worksheet.

[casandului]

Similar issue here. I removed everything from tax return such as interest, dividends, etc except W2 and still don't get 15% or 20% for capital gain. I made a simple example $1000 gain and I am not getting either one 15% nor 20% ($150 or $200 in this case). I don't see how the explanation given by turbo tax expert make sense with this scenario. 

What is the issue here as I am under IRS max limit for max 15% rate of $434550?